No matter what industry you are in, you need the best business intelligence possible if you are to make the best decisions. Improving their business intelligence has been a goal for many organizations in recent years, but too often, their efforts come up short. Sometimes the problem lies with the time it can take to develop a solution to answer important questions; by the time development is complete, the questions are no longer pertinent due to changes in the market or company goals. At other times, efforts to leverage big data result in more data but less ability to conduct analytics. Still other companies try to collect more intelligence by increasing the marketing budget to cover the costs of more surveys or focus groups. In the end, the most companies trying these methods end up with more expenses and no improvements in their business intelligence.
When building a better business intelligence system, the focus should be on the last word in the phrase — system. You do not need more databases or bigger databases. You need a better system. If you are serious about increasing your business intelligence maturity, the following tips might help.